Sun Life Financial has agreed to purchase New York City-based Ryan Labs for an undisclosed amount.
Founded in 1988 and known by the brand name Ryan Labs Asset Management, the firm specializes in liability-driven investing and total return fixed income strategies.
The company has approximately US$5.1 billion in assets under management for clients across the United States.
Following completion of the transaction, Ryan Labs will operate as a unit of Sun Life Investment Management.
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Ryan Labs will retain its brand name and will continue to be managed by its current team, headed by president Sean McShea. He will report to Steve Peacher, president of Sun Life Investment Management and chief investment officer of Sun Life Financial.
“Bringing an established and innovative firm like Ryan Labs into our family is a significant first step in building Sun Life Investment Management’s third-party business in the U.S.,” says Peacher.
The transaction is expected to close in the first quarter of 2015, subject to regulatory approval and customary closing conditions.
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